Cryptos fail to generate momentum continuous confusion – BTC and Ethereum (ETH) Technical Outlook

• Bitcoin and Ethereum continue to move sideways with ongoing confusion regarding the Iran peace process
• Cryptos are not following Nasdaq as strongly as before, pointing to inherent Digital Asset weakness
• Exploring a Technical Analysis and trading levels for Bitcoin and Ethereum

Bitcoin and other cryptos are stuck in a narrow, frustrating range as uncertainty around the Iran peace process continues.

Unlike traditional risk assets, cryptocurrencies are not following the recent surge in US stocks. While stock benchmarks hit new all-time highs after news from the Strait of Hormuz, digital assets have barely reacted.

Bitcoin is holding near $76,000 and showing signs of resistance on daily charts, rather than breaking out. This slow movement shows that cryptocurrencies are not tracking the tech-heavy Nasdaq as closely as they have in the past.

The recent split suggests weakness in digital assets, as crypto investors are hesitant to take a clear direction while the outcome of the peace process is still uncertain.

It is still unclear if this underperformance will last.

The lack of strong buying suggests that retail investors are holding back for now. However, Bitcoin is still holding its support levels even as the US Dollar rises, which shows that its base is solid – But some technical cracks might be starting to materialize.

The question remains: If the geopolitical situation stabilizes, is there still a chance for a strong catch-up rally?

Let's dive right into a technical analysis and key trading levels for both Bitcoin and Ethereum to spot if a clear breakout in indeed into play from here.

Read More:

• Markets are sending mixed feelings on the peace Deal – Dow Jones, Nasdaq and S&P 500 Intraday Levels
• The Dollar contradicts the peace trade – EUR/USD, GBP/USD & Dollar Index (DXY) overview
• Chart alert: AUD/NZD rally set to continue after hitting 13-year high

Bitcoin attempted a breakout above its long-term pivot but could not hold it amid low conviction regarding a clean development for the US-Iran peace process.

BTC could actually be forming a Head and Shoulders pattern, a bearish pattern that could take the main crypto back to $70,000 following a measured move approach.

Still, as long as it holds above its 50-Day MA ($74,800), the outlook is more bullish-neutral than bearish.

Levels of interest for BTC trading:

Support Levels:

• 4H 200-period MA ($77,000)
• $75,000 Key long-term Pivot (acting as resistance)
• $70,000 Short-term momentum Pivot
• $60,000 to $63,000 Main 2024 support (recent double bottom)
• $59,935 February Lows

Resistance Levels:

• $74,800 50-Day MA
• $80,000 to $83,000 mini-resistance (entering, bullish above)
• $82,500 cycle highs
• $90,000 to $95,000 minor Resistance
• $98,000 to $100,000 Pivotal Resistance
• Current ATH Resistance $124,000 to $126,000

Ethereum is still showing weaker action compared to Bitcoin, having broken below its 50-Day Moving average ($2,220) and just holding above its October downtrend, leaving the crypto in a more balanced than bearish outlook.

Any move below $2,000 could accelerate the selloff in the broader altcoin Market, but as long as the action remain above the key level, bulls can still remain optimistic.

Levels of interest for ETH trading:

Support Levels:

• mini-support $2,000
• $1,700 to $1,800 Pre-Bounce 2025 Key Support (testing)
• $1,744 February 6 lows
• $1,380 to $1,500 2025 Support
• 2025 Lows $1,384

Resistance Levels:

• Daily 50 MA $2,220
• Mini-Resistance $2,400
• $2,500 to $2,800 June 2025 Pivotal Resistance
• $3,000 to $3,200 Major momentum Pivot (Test of the $3,000)
• $4,950 Current new All-time highs

The narrative is easing, but keep track of WTI Crude and the latest headlines to stay ahead of the game.

Safe Trades!

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